© Reuters. FILE PHOTO: An Intel Tiger Lake chip is displayed at an Intel news conference during the 2020 CES in Las Vegas, Nevada, U.S. January 6, 2020. REUTERS/Steve Marcus/File Photo
WASHINGTON (Reuters) – A bipartisan group of U.S. senators on Thursday proposed a new 25% investment tax credit for investments in semiconductor
manufacturing as Congress works to speed U.S. chips production.
The proposal sponsored by Senate Finance Committee Chairman Ron Wyden and the top Republican Senator Mike Crapo along with
Mark Warner, John Cornyn, Debbie Stabenow and Steve Daines would provide “reasonable, targeted incentives for domestic semiconductor manufacturing,” they said in a statement.
Last week, the Senate voted 68-32 to approve spending $52 billion to increase U.S. production and research into semiconductors and telecommunications equipment, including $2 billion dedicated to chips used by automakers.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Be the first to comment